according to Shadowstats.com if we run the same M1 and M3 numbers through the formula's they used to calculate unemployment in the 1980s we'd be looking at 24-27% unemployment. Which honestly seems more realistic. It would also be a percentage more accurately reflecting the number of people on government assistance (55 million).
Fun fact: If you did the same formulas to compute the inflation rate it would be almost 12%. Very different from the current Whitehouse numbers of 6.5% unemployment and 2% inflation.
Kinda makes you wonder why each administration since Reagan has changed the formulas...wonder what they're so intent on hiding.